The global pharmacy market in 2014 saw a vast number of mergers and acquisitions. Many big deals were closed, especially with global players. Among these mergers and acquisitions one could witness strong focus on therapy technologies in different fields. There was also strong organic growth: with 40 new admissions in 2014, the FDA set a new record. Dr. Thilo Kaltenbach, leader of the Arthur D. Little Healthcare Practice, explains how medium-sized and small companies in particular were keen to develop innovative new therapies and technologies. For smaller companies that own rights, it was a tough decision whether to sell their rights to bigger players or bring the products to the market themselves. Arthur D. Little experts found that the choice of the right “fit-for-purpose commercial and operational model” determines the success of those actions.